Rental Property Insurance FAQs in Weatherford, TX
Rental property insurance, also known as landlord insurance, may protect property owners from financial losses associated with their rental properties. This type of policy typically includes coverage for various losses and unexpected expenses following covered events. Below, Associated Insurance answers some of the most common questions about rental property insurance.
What Does Rental Property Insurance Cover?
Policies can vary, but rental property insurance in Texas generally includes:
- Property coverage for the structure against risks like fire, storm damage or vandalism
- Liability protection if someone is injured on your property or you’re at fault for damaging their property
- Loss of rental income if the property becomes uninhabitable due to a covered loss
- Coverage for landlord furnishings or equipment
What Types of Properties Are Typically Covered?
Rental property insurance may apply to various residential living spaces that are leased rather than occupied by a property owner. This can include apartments, single-family homes, townhomes, duplexes and mobile homes used as primary residences. Coverage does not typically cover tenants’ personal belongings.
How Is Rental Property Insurance Different from Homeowners Insurance?
Homeowners insurance is intended for owner-occupied homes, while rental property insurance is tailored for properties you rent out. Landlord policies generally offer different coverage, especially regarding liability and loss of rental income.
How Much Does Coverage Cost?
Like many types of insurance, rates may be influenced by various factors. Specifically, carriers may consider the following:
- Location
- Structural specifications (e.g., building materials used, age)
- Number of tenants
- Property features (e.g., swimming pools and hot tubs)
- Claims history
- Policy details (e.g., coverage limits, deductibles and endorsements)
Get Covered Today
Associated Insurance helps landlords and property owners in Weatherford, TX and nearby communities secure rental property insurance. If you have questions or would like to explore your options, contact us today.
